Member of Parliament (MP) for North Tongu, Samuel Okudzeto Ablakwa, has welcomed the directive by the National Pensions Regulatory Authority (NPRA) to the Social Security and National Insurance Trust (SSNIT) to suspend the sale of hotels to Minister of Agriculture Bryan Acheampong.
In a press release, the NPRA suspended the sale of SSNIT’s stake to the Mr Acheampong’s Rock City Hotel.
According to the NPRA, this suspension would allow it to properly evaluate the documents associated with the sale of these hospitality facilities.
“As you may be aware, section 67 (2) of the [National Pensions] Act requires us to issue relevant guidelines to guide your investment decisions.”
“In furtherance of this requirement, you are hereby directed by the Board of the Authority to suspend all the processes seeking to engage Rock City Hotel as the Strategic Investor in a matter of the sale of the above hotels.”
Reacting to this, Mr Ablakwa said that although this was a good call, he was looking forward to the deal’s cancellation.
“This development is a very significant one. I will call this an initial victory for the masses of our country. All along SSNIT has been defiant even when I petitioned CHRAJ, I intercepted documents that proved that they were going ahead full speed, neck-breaking speed to finalise this deal and that is why we had to mobilise and hit the streets and stage the ‘Hands Off Our Hotels’ demonstration last week the 18th of June.
“I am glad that finally the resistance of the people, the voice of the people and in this matter the overwhelming majority of Ghanaians were very emphatic from organised labour, civil society organisations, the chiefs of La, the chiefs of Ga Mashie and every Ghanaian including those in academia were very very unequivocal that this deal stinks to the high heavens.
“It did not make sense, it did not meet conflict of interest standards. This deal was not in the national interest and yet SSNIT was defiant…what we want is a cancellation of this deal,” he added.
In his petition, Mr Ablakwa contends that documents in his possession indicate that SSNIT is on the verge of selling a majority 60% stake in six of its hotels to Rock City Hotel Limited, a company reportedly owned by Bryan Acheampong, the Minister for Food and Agriculture.
The hotels under scrutiny in the petition include Labadi Beach Hotel, La Palm Royal Beach Resort, Elmina Beach Resort, Ridge Royal Hotel, Busua Beach Resort, and the Trust Lodge Hotel.
According to Mr Ablakwa, the sale of SSNIT’s shares in the hotels lacks due process and violates procurement procedures.
He is therefore asking CHRAJ to stop the sale of the hotels to the Abetifi MP.
However, SSNIT, in response, explained that based on its criteria set out for the sale, Rock City Hotel Limited submitted the best and strongest technical and financial proposal among the bids received.
SSNIT further clarified that the bids were successful for only four hotels, not the entire six, as the North Tongu MP claimed.